December 1 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP-R-A] said on Friday its supervisory board has given its final approval to investments totalling 632.96 million kuna ($99.6 million/83.8 million euro) for 2018.
The 2018 investments represent a continuation of the company strategy to reposition its portfolio towards products and services with high added value, Valamar said in a statement with the Zagreb bourse.
In 2018, the company plans to complete the Valamar Girandella Resort in Rabac where the first five-star Kinderhotel in Croatia will be opened, thus expanding its family-oriented portfolio segment.
Valamar will also continue its large strategic investments in premium camping in Istria and on Krk Island, while investments in Dubrovnik will be focused on creating additional hotel amenities at Valamar Argosy.
Investment plans also include numerous projects for guest amenities and increasing energy efficiency, the company noted.
Valamar's final investment sum for 2018 has been cut slightly from the planned 703.84 million kuna announced earlier this year.
(1 euro=7.55467 kuna)